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Long-Term Budgeting: Can it Help Governments Address the Aging Problem? Presentation: Barry Anderson Head of the Budgeting and Public Expenditures Division at the Public Governance and Territorial Development Service of the OECD Discussants Donald Marron Director (Acting) of the Congressional Budget Office Maya MacGuineas President of the Committee for a Responsible Federal Budget, New America Foundation

The event took place on Tuesday, November 14, 2006
Capitol Hill Club, Private Dining Room 1
300 First Street SE, Washington DC 20036
9:00-10:00 AM Presentation, 8:30 AM Registration

Event Description:

Mr. Anderson's presentation will address how long-term budget projections can help governments assess fiscal risks and prepare for the future.  The presentation is based in part on a paper entitled: Assessing Fiscal Risks through Long-Term Budget Projections which was presented to OECD's annual meeting of Senior Budget Officials in Sydney, Australia last June.  The purpose of the paper was to demonstrate that doing long-term projections [25, 50, 75 years or more] was not only feasible but had real value to the handful of countries that did them.  As many OECD [and even more non-OECD] countries struggle with doing medium-term [usually 3 years] budget forecasts, the ability to do long-term projections and their value were important and new messages for many countries. To highlight the value of doing long-term budget projections, Mr. Anderson will discuss the use of the long-term projections that European Commission released in October.

Mr. Marron will then comment on the status of making long-term budget projections in the US, and Ms. MacGuineas will comment on the use of these projections in today's budget environment.

Biographies:

Barry Anderson is currently Head of the Budgeting and Public Expenditures Division at the Public Governance and Territorial Development Service of the Organization for Economic Cooperation and Development (OECD).  Prior to joining OECD, Mr. Anderson was a budget advisor at the International Monetary Fund, where he advised senior government officials on budget and management issues, including: fiscal rules; public-private partnerships; performance budgeting; and the organization and operation of central budget offices. Before joining IMF, Mr. Anderson served in various positions dealing with federal budgeting in the United States Federal Government, most recently as the Deputy Director and then the Acting Director of the Congressional Budget Office; before that as the Assistant Director and senior career civil servant at the White House’s Office of Management and Budget, and before that at the General Accounting Office.  In these positions, he helped draft and implement the Budget Enforcement Act, the Gramm-Rudman Act, and every other major budget control act enacted by Congress.  He also represented the United States and chaired meetings of Senior Budget Officials held by the OECD.  He has also been a member of the Federal Accounting Standards Advisory Board, and a private consultant.  He currently is a member of the Board of the Center on Federal Financial Institutions, the Committee for a Responsible Federal Budget, as well as the Board of the Center of Excellence in Finance in Ljubljana, Slovenia, and he lectures on federal budgeting at the George Washington University. He received his MBA from the University of Washington, and his undergraduate degree from the University of Illinois.

Donald B. Marron became CBO's Deputy Director in October 2005 and began serving as Acting Director as of December 30. Previously, Dr. Marron served as Chief Economist for the President's Council of Economic Advisers. In that capacity, he analyzed a broad range of fiscal, regulatory, and macroeconomic policies and directed a team that monitored the state of the economy and developed economic forecasts. Prior to holding that post, Dr. Marron was the Executive Director and Chief Economist of the Congress's Joint Economic Committee, where he led a team that advised Members of Congress and Congressional staff about the performance of the economy, fiscal policy challenges, and the impacts of legislative proposals. Before his government service, Dr. Marron was chief financial officer of a medical software start-up in Austin, Texas, and a principal and senior associate with the Washington, D.C., office of Charles River Associates, where he provided business consulting and litigation support to companies in a variety of industries. He also served as an assistant professor of economics at the University of Chicago's Graduate School of Business from 1994 to 1998, where he taught courses in microeconomics, entrepreneurial finance and private equity, and environmental policy.

Maya MacGuineas is the President of the Committee for a Responsible Federal Budget and the Director of the Fiscal Policy Program at the New America Foundation. Her areas of expertise include the budget, entitlements and tax policy. Her work has been published in a number of outlets including The Atlantic Monthly, The New York Times, The Washington Post, The Financial Times, and The Los Angeles Times and she regularly testifies before Congress.   Before coming to New America, MacGuineas worked as a Social Security adviser to the McCain presidential campaign.  Prior to that, she worked at the Brookings Institution, the Concord Coalition and on Wall Street. She received her Master in Public Policy from the John F. Kennedy School of Government at Harvard University and serves on the Boards of a number of national, nonpartisan organizations.